"The Australian Competition and Consumer Commission (ACCC) is an independent Commonwealth statutory authority established in 1995. Its role is to administer and enforce the Competition and Consumer Act 2010 and other legislation, promoting competition, fair trading and regulating national infrastructure for the benefit of all Australians." (ACCC, 2023).
Businesses have to protect customers by making sure that they give products to people that do what they are supposed to do. If they
don't customers can report them to the ACCC and in some cases the ACCC can make them give money back to the customers and they can also be fined if they have broken legislation that is set out by the government. The businesses have to follow the Competition and Consumer Act 2010.
The legislation protects consumers in the following ways:
- product safety and labelling
- unfair market practices
- price monitoring
- industry codes
- industry regulation – airports, electricity, gas, telecommunications
- mergers and acquisitions.
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